Regal Entertainment declares $2 dividend

KNOXVILLE, Tenn. (AP) - Movie theater operator Regal Entertainment Group on Monday declared an extraordinary dividend of $2.The company will pay the dividend on April 13 to shareholders of record March 28.Regal said it will fund the special dividend from part of the approximately $445 million in proceeds it received in connection with National CineMedia's initial public offering completed on Feb. 13. It will continue to evaluate other uses for the rest of the proceeds including potential acquisition opportunities.The special dividend will not affect the company's previously announced quarterly dividend of 30 cents payable on March 19 to shareholders of record March 9.Regal Entertainment has about 150.9 million shares outstanding.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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